Funnel Releases 2023 Highlights

Celebrating our clients' wins, fighting housing inequality, closing Series B-2 funding, completing the modern front office suite, moving leaders to the new operating model, and continuing to push the envelope of what's possible in multifamily

TAMPA, Fla., Jan. 11, 2024 /PRNewswire/ -- Funnel Leasing, the only front office product suite to successfully centralize operations for leading companies, today announced its 2023 highlights. Throughout the past year, Funnel continued to innovate and disrupt the multifamily industry through partnerships with its clients and expanding the company's suite of products. From continued iteration of their products, to HOME by Funnel Inc. making its first donation to a charity partner organization, to earning awards, to closing on a new round of funding it was an outstanding year for Funnel.

Funnel clients garnering impressive results in a tough multifamily market

Our renter-centric platform cost and efficiency savings for companies, centralization, relief for overstretched teams and ideal renter experiences. While bold, claims like these are illustrated in the results that our clients are seeing after moving to Funnel:

• Mack Property Management increased its prospect sentiment score to 88% after implementing Funnel.
• QuadReal leads the Canadian market with the first adoption of Funnel to drive centralized leasing portfolio-wide. The combination of our AI, automation, and their centralized operations drove a 33% increase in tour-to-lease conversion and provided operational flexibility.
• CARROLL (recently acquired by RMR Group) was finally able to centralize its operating model after striking out with other CRM providers. Changing from a property-centric to Funnel's renter-centric CRM increased renter retention by 15% and drove down costs for CARROLL.
• New clients like Yellow Tree are joining the PINK side often.

Non-profit, HOME by Funnel Inc., made its first donation to partner organization: Entryway

The inaugural partnership between the two non-profits brings to life HOME by Funnel Inc.'s goal of creating housing equality. The work knows no end, HOME plans to raise money to support housing equity from various sources, including Funnel Leasing, Inc., which will donate $1 from every new lease signed using Funnel Leasing's online leasing solution.

Funnel completed the front office with new products, and continues to iterate on previous products

We don't think "good enough" is ever good enough. We are constantly gathering customer feedback, iterating, integrating, and making everything we build exceptional. Here are the highlights:

• Funnel's Virtual Leasing Agent is now fluent in Spanish, which increases equitable opportunities for renters to find homes.
• AI solution now taking renter phone calls through our Voice VLA offering.
• Funnel launched a new ResApp product, to create happier residents and make the move-in process less stressful for new renters and teams.
• MyQueue, the biggest enhancement of a multifamily CRM in years, enables true centralized role specialization for multifamily leaders and leasing teams.
• Funnel continued to integrate with industry disruptors including: Plaid for application fraud prevention and screening, Zillow to instantly book tours, and self-service apartment shopping with Zumper.
• Countless new reports and filtering options give our customers even more data to make informed business decisions.
• Redesigns of our messaging, merge, and tour booking modals create a better-than-ever agent + renter experience.
• Updated search functionality that allows users to find important renter info quickly.
• Added biometric login (touch ID, face ID) for ResApp users to drive a frictionless experience.
• Kept iterating on our VLA to support new intents like corporate leasing and business hours to answer more renter questions than ever.

Funnel raises $32 Million to expedite the adoption of the new operating model by multifamily leaders

In a challenging funding environment, only the most competitive companies are finding a path forward. We are incredibly proud to be among them. The financing is led by RET Ventures, the leading VC investor in "rent tech", whose 50+ strategic investors comprise the largest group of apartment owners and operators working together to drive innovation in multifamily, representing over 2.5 million rental units. They are joined by Trinity Ventures and a group of leading multifamily owner-operator co-investors.

Funnel honored with multiple best places to work and real estate influencer awards

1. Funnel was recognized with three big Best Places to Work awards, because of our PINK core values (Prosocial, Integrity, Novel and Kick-ass) exhibited daily by our team members:
   • Multifamily leadership honored us with the 2024 Best Places to Work Multifamily® 2024 and the Best Places to Work Multifamily® for Women. In its 9th year, the Best Places to Work Multifamily® program continues to fulfill its mission to advance leadership and innovation for multifamily professionals by recognizing those organizations that own, manage, and support apartment communities nationwide and who are making an impact in the world through employee engagement.
   • We were recognized by the National Apartment Association (NAA) as a winner of the 2023 NAA Top Employers Award. This award recognizes member organizations creating environments focused on collaboration, innovation, and hard work. Funnel was previously recognized as a finalist for both the 2022 NAA Top Employers, and 2021 NAA Best Places to Work awards.
   • We were honored with a 2023 Tampa Bay Inno Award, alongside 20 other local companies and people who represent a wealth of talent, innovation, and disruptive strategies in Tampa Bay's tech ecosystem.
2. Funnel was honored with multiple additional multifamily and real estate Influencer awards: 
   • Our CRO, Johnny Hanna, former Entrata and Homie co-founder, was recognized as a 2023 Multifamily Influencer by GlobeSt. Real Estate Forum, which recognizes individuals teams, and organizations that are disrupting and pushing multifamily forward.
   • Funnel Named a 2023 CRE Tech Influencer for Organizations by GlobeSt. Real Estate Forum. The award series sought to spotlight the outstanding CRE organizations and individuals that have influenced the industry through their technological expertise and their ability to quickly adapt. Funnel was previously recognized as a 2022 GlobeSt. Multifamily Influencer, and CEO Tyer Christiansen was recognized as a 2022 GlobeSt. CRE Tech Influencer. 

The Future is P.I.N.K.

We mean P.I.N.K. like our values — prosocial, integrity, novel, and kick-a** — because we know none of this would be possible without the dedicated Funnel team, our industry-leading clients, and partners who worked to make this all possible.

About Funnel
Funnel provides a win to three vital groups: renters who demand a better customer experience; stretched-thin onsite teams who demand a better long-term career; and operators looking to reduce costs and improve efficiencies. Funnel's AI and automation-powered platform is the enterprise-grade solution industry leaders, owners, and operators trust to deliver a streamlined, consistent, and connected experience from first inquiry through years of renewals, while simultaneously saving operators quantifiable money through the operational flexibility only a renter-centric platform can provide. We call it Renter Management Software; our clients call it the new operating model.

Media Contact:

Funnel Leasing
Alex Howe, VP of Marketing
alex.howe@funnelleasing.com

SOURCE Funnel